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PPP Loan Data — The Methodist University, Inc, Fayetteville, NC

SBA PPP loan data, payroll data, and salaries for The Methodist University, Inc
NC Nonprofit Organization

The Methodist University, Inc

Entity: Non-profit Organization

Industry: Colleges, Universities, and Professional Schools

Location: Fayetteville, NC

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The Methodist University, Inc is a non-profit organization located at 5400 Ramsey Street in Fayetteville, North Carolina that received a Coronavirus-related PPP loan from the SBA of $5,192,100.00 in June, 2020.

$ PPP Loan Information

Loan Size:

$5.19M

Jobs Retained:

0 Unreported

Loan Approved:

2020-06-05

Lender:

NORTH STATE BANK

The Methodist University, Inc received a Paycheck Protection Loan of $5.19M through NORTH STATE BANK, which was approved in June, 2020.

Based on standard PPP eligibility rules, The Methodist University, Inc's total 2019 payroll expenses were approximately $24.92M in order to qualify for the PPP loan amount received.

Unlike most businesses, The Methodist University, Inc's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Because the loan received by The Methodist University, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - The Methodist University, Inc in Fayetteville, NC

The Methodist University, Inc
5400 Ramsey Street
Fayetteville, NC 28311

Business Industry

Colleges, Universities, and Professional Schools (NAICS code 611310)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NC-08

Industry PPP Comparison Statistics

Nationwide, 2,077 businesses in the "Colleges, Universities, and Professional Schools" industry received a total of $1,723,864,433.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 86 employees, and received an average PPP loan of $829,978, 84% lower than this company's loan of $5.19M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/the-methodist-university-inc-fayetteville-nc